In addition to the ribbon cutting for the new facility, SEG Solar rolled out its first 585-watt YUKON N series module during the opening on August 9. Photo courtesy of SEG Solar

A Houston-based photovoltaic manufacturer has celebrated the opening of its new manufacturing base in Houston.

 SEG Solar's new facility spans 250,000 square feet and will house production workshops, raw material warehouses, administrative offices, finished goods warehouses, and supporting infrastructure. It features two intelligent manufacturing lines that will produce the latest N-type high-efficiency PV modules, which is expected to have production capacity exceeding 2 gigawatts annually. The project cost $60 million.

“The Houston plant is a key part of SEG’s strategy to serve the U.S. market,” Jim Wood, CEO of SEG, says in a news release. “With new workshops, production lines, and equipment, SEG will offer a refreshed experience to the U.S. market.”

In addition to the ribbon cutting for the new facility, SEG Solar rolled out its first 585-watt YUKON N series module during the opening on August 9, which helps establish SEG as one of the first manufacturers to achieve module production in the United States.

The production lines will be compatible with 182mm and 210mm N-type cells and will be fully equipped with automated intelligent manufacturing systems, which can ensure seamless integration of automation, information and intelligence. The technological collaboration assists with manufacturing efficiency. The workshop will feature advanced ERP and MES systems for refined management and traceability of incoming materials.

SEG has shipped over 5 gigawatts of solar modules worldwide. The company says it expects to exceed a production capacity of 5.5 gigawatts by the end of 2024. According to SEG, customers will benefit from faster delivery times and enhanced after-sales service after the opening of the Houston plant. Houston’s key location will help reduce transportation costs, according to the company. Expanding out of Houston and the U.S. market, SEG plans to establish Southeast Asia's largest photovoltaic industrial park in Indonesia in 2025.

SEG hopes to establish its global R&D center at the Houston PV manufacturing base before the end of 2024 that will offer testing services, like LID tests, Damp Heat tests, PID tests, and Light and LeTID tests.

“As a leading U.S. solar company, SEG is proud to be among the first to respond to the call for domestic manufacturing by constructing a solar module factory in the U.S.,” Wood says in his keynote speech at the opening ceremony. “The completion of the Houston plant marks a significant milestone for SEG and a major advancement in U.S. module manufacturing technology.

"Looking ahead, SEG will continue to deepen its investments in wafers, cells, and modules, closely tracking market trends to meet our customers' needs," he continues. "Through strategic collaborations across the supply chain, we aim to continuously optimize and enhance the U.S. PV manufacturing industry.”

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Houston American Energy closes acquisition of New York low-carbon fuel co.

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Renewable energy company Houston American Energy Corp. (NYSE: HUSA) has acquired Abundia Global Impact Group, according to a news release.

Houston American reports that the acquisition will allow it to create a combined company focused on converting waste plastics into high-value, drop-in, low-carbon fuels and chemical products. It plans to move forward with Abundia’s plans for developing large-scale recycling projects, with a new facility previously announced for the Gulf Coast, located in Cedar Port Industrial Park, near the Baytown area of Houston.

New York-based Abundia used its proprietary pyrolysis process to convert plastic and certified biomass waste into high-quality renewable fuels. Its founder, Ed Gillespie, will serve as CEO of the combined company and will join HUSA’s board of directors. Peter Longo, who previously served as HUSA's CEO, will serve as chairman of the board. Lucie Harwood was named CFO and Joseph Gasik will serve as COO.

“The completion of this acquisition represents a pivotal transformation for HUSA,” Longo said in a news release. “Abundia has a commercially ready solution for converting waste into valuable fuels and chemicals, with a backlog of development opportunities utilizing proprietary technologies and key industry partnerships. This transaction gives HUSA shareholders a ready-made platform and project pipeline for future value generation as the fuel and chemical industries accelerate their adoption of low-carbon solutions and sustainable aviation fuel.”

The combined company plans to serve what it estimates is a multi-billion-dollar global demand for renewable fuels, Sustainable Aviation Fuel (SAF) and recycled chemical feedstocks, according to the news release.

“This is a landmark moment for Abundia and a major step forward for the renewable industry,” Gillespie added in the release. “Joining forces with HUSA and entering the public capital markets positions us to accelerate growth, scale our technology and expand our influence within the renewable and recycling industries. I am proud of the hard work and determination of both the AGIG and HUSA teams to finalize this transaction. We look forward to delivering shareholder value and critical technologies to reduce carbon emissions.”

Houston American Energy announced the deal in March. The company also closed a $4.42 million registered direct offering in January.

Tesla announces annual meeting under pressure from shareholders

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Tesla has scheduled an annual shareholder meeting for November, one day after it came under pressure from major shareholders to do so.

Billionaire Elon Musk's company said in a regulatory filing on Thursday that the meeting would be held Nov. 6, but that may prove troublesome because it comes nearly three months after it is required to do so under state law in Texas, where the company is incorporated.

The annual meeting, given Tesla's fortunes this year, has the potential to be a raucous event and it is unclear how investors will react to the delay, which is rare for any major U.S. corporation.

Tesla shares have plunged 27% this year, largely due to blowback over Musk's affiliation with President Donald Trump, as well as rising competition.

The announcement of the meeting comes a day after a group of more than 20 Tesla shareholders sent a letter to the company's board pressing for an annual meeting after receiving no word of one with the deadline just days away.

Many shareholders have been miffed by Musk's participation in the Trump administration this year, saying he needs to focus on his EV company which is facing extraordinary pressures.

“An annual meeting provides shareholders with the opportunity to hear directly from the board about these concerns, and to vote for or against directors, the board’s approach to executive compensation, and other matters of material importance,” the group said in the letter.

The group cited Texas law, which requires companies to schedule annual shareholders meetings within 13 months of the prior annual meeting.

Tesla’s last shareholders meeting was on June 13 of last year, where investors voted to restore Musk’s record $44.9 billion pay package that was thrown out by a Delaware judge earlier that year.

Also on Thursday, Musk that the Grok chatbot will be heading to Tesla vehicles.

“Grok is coming to Tesla vehicles very soon. Next week at the latest,” Musk said on social media platform X, in response to a post stating that Grok implementation on Teslas wasn't announced on a Grok livestream Wednesday.

Grok was developed by Musk’s artificial intelligence company xAI and pitched as an alternative to “woke AI” interactions from rival chatbots like Google’s Gemini, or OpenAI’s ChatGPT.

Shares of Tesla rose 3% at the opening bell after tumbling this week when the feud between Trump and Musk heated up again.